conservatives: social programs are satan it's just free stuff for no work
also conservatives: trading stocks is a valid profession
also conservatives: trading stocks is a valid profession
@icedquinn I think the argument is that successful stock traders posses some kind of oracle that allows them to plan for the future and keep markets liquid. Most people are sure that's impossible but we wouldn't want to stop an oracle if it ever appeared. :p
@swiley i will never respect them because they do nothing useful.
pro-stonk people have tried arguing me on this and think they are cute like, "well what about investors?"
and i usually say that if someone is buying in to a project for the outcome then it's somewhat productive (they are buying in to the bakery because they want the community to have bread) then this is based.
if they are buying in to the bakery just to turn money in to more money then its usury which is a sin and also cringe. but it has the accidental effect the neighborhood gets bread.
financial instruments are people who don't care at all about the bread and really aren't even concerned about accidentally breading the neighborhood it's just numbers games to them and they move stonks around. useless people. you could airlock them all and nobody would notice (other than their instruments would stop crashing economies.)
pro-stonk people have tried arguing me on this and think they are cute like, "well what about investors?"
and i usually say that if someone is buying in to a project for the outcome then it's somewhat productive (they are buying in to the bakery because they want the community to have bread) then this is based.
if they are buying in to the bakery just to turn money in to more money then its usury which is a sin and also cringe. but it has the accidental effect the neighborhood gets bread.
financial instruments are people who don't care at all about the bread and really aren't even concerned about accidentally breading the neighborhood it's just numbers games to them and they move stonks around. useless people. you could airlock them all and nobody would notice (other than their instruments would stop crashing economies.)
@icedquinn @swiley They’re good as positioning their trading abilities as value and convincing people to let them invest their money (even though an indexed fun that just follows an algorithmic investment model is almost always just as effective and cheaper).
But making up value is how we sell so many things. It does take work/effort, even if it is to generate a career via bullshit.
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@djsumdog @icedquinn It really makes more sense if you look at it as just another credit market.
